The power of clans: How social capital sheltered firms during the COVID-19 pandemic

Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firm...

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Detalles Bibliográficos
Autores principales: Liu, Linqing, Yang, Lisi, Yan, Kai
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10275770/
https://www.ncbi.nlm.nih.gov/pubmed/37362550
http://dx.doi.org/10.1016/j.econlet.2023.111224
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author Liu, Linqing
Yang, Lisi
Yan, Kai
author_facet Liu, Linqing
Yang, Lisi
Yan, Kai
author_sort Liu, Linqing
collection PubMed
description Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firms from the shock. Our results frame social capital as a complementarity to formal institutions during crises.
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spelling pubmed-102757702023-06-21 The power of clans: How social capital sheltered firms during the COVID-19 pandemic Liu, Linqing Yang, Lisi Yan, Kai Econ Lett Article Data from 3,555 Chinese listed firms show that firms in cities with greater clan strength faced smaller losses and swifter recovery following COVID-19. Clans were significantly related to individual values facilitating pandemic prevention; these ties guaranteed economic activities and sheltered firms from the shock. Our results frame social capital as a complementarity to formal institutions during crises. Elsevier B.V. 2023-08 2023-06-17 /pmc/articles/PMC10275770/ /pubmed/37362550 http://dx.doi.org/10.1016/j.econlet.2023.111224 Text en © 2023 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Liu, Linqing
Yang, Lisi
Yan, Kai
The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title_full The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title_fullStr The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title_full_unstemmed The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title_short The power of clans: How social capital sheltered firms during the COVID-19 pandemic
title_sort power of clans: how social capital sheltered firms during the covid-19 pandemic
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10275770/
https://www.ncbi.nlm.nih.gov/pubmed/37362550
http://dx.doi.org/10.1016/j.econlet.2023.111224
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